PACGOLD LIMITED — Investor Presentation 2022

May 2, 2022

Alice River Gold Project

3 MAY 2022 – INVESTOR PRESENTATION

ASX : PGO

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Cautionary Statement

Disclaimer & competent persons statement

PURPOSE OF THIS DOCUMENT

This presentation has been prepared by Pacgold Limited (“PGO") for general information purposes only using the information available to PGO at the time of publication. This presentation does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of PGO.

NO RELIANCE

The information contained in this presentation is not investment, tax, accounting, legal or financial product advice and is not intended to be used as the basis for making any investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. To the fullest extent permitted by law, PGO, its related bodies corporate and their representatives expressly disclaim liability for any loss or damage arising in respect of your reliance on the information contained in this presentation (including your reliance on the accuracy, completeness or reliability of that information), or any errors in or omissions from this presentation, including any liability arising from negligence.

EXCLUSION OF REPRESENTATIONS OR WARRANTIES

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of PGO's directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Before making any investment decision, you should consider whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance. You should seek professional advice from your accountant, financial adviser, stock broker, lawyer or other professional adviser before making any investment decision.

FORWARD LOOKING INFORMATION

Certain statements in this presentation constitute “forward looking information” that is based on expectations, estimates and projections as of the date of this presentation. This forwardlooking information includes, among other things, statements with respect to PGO’s business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, and exploration results. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘likely’,’ believe’, ’estimate’, ‘expect’, ’intend’, ’may’, ’would’, ’could’, ’should’, ’scheduled’, ’will’, ’plan’, ’forecast’, ’evolve’ and similar expressions. These statements are subject to risks and uncertainties. The forward looking information should not be relied upon as representing the view of PGO after the date of this presentation. PGO has attempted to identify important factors that could cause actual actions, events or results to differ materially from those current expectations described in the forward looking information. There can be no assurance that the forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place undue reliance on the forward looking information. PGO disclaims any intent or obligations to or revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law.

EVENTS AFTER THE DATE OF THIS DOCUMENT

COMPETENT PERSONS STATEMENT

The information in this document that relates to Exploration Results is based on, and fairly represents, information compiled or reviewed by Mr Tony Schreck, who is a Member of The Australasian Institute of Geoscientists. Mr Schreck is PGO’s Managing Director and holds shares and options in PGO.

Mr Schreck has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

Mr Schreck consents to the inclusion in the public report of the matters based on his information in the form and context in which it applies.

Statements in this presentation are made only as of the date of this presentation unless otherwise stated and the information in this presentation remains subject to change without notice. PGO is not responsible for updating nor undertakes to update this presentation.

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Investment Highlights – Unlocking an Entire Gold Corridor PACGOLD LIMITED (ASX:PGO)

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Alice River Gold Project – Outstanding success applying modern exploration to an overlooked gold asset

• High-grade discovery on the F1a zone (Central Target)

• 17m @ 9.3g/t Au from 192m incl. 3m @ 25.3g/t Au from 195m[1]

• 43m @ 3.0g/t Au from 214m incl. 6m @ 17.5g/t Au from 216m[1]

• Drilling success to date has created an excellent platform to build a substantial resource base

Aggressive drilling programme to commence May – over 18 months targeting maiden JORC resource

• 80% Exploration growth and step out drilling to expand F1a discovery

• 20% Regional pipeline drilling – priority target defined over 30km

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1Source: PGO ASX 12 Jan 2022 and 14 Feb 2022

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Company Snapshot – ASX : PGO

Best performing gold IPO on the ASX for 2021 1

Capital Structure A$0.70 A$43.2M Share Price Market Cap @ 28 April 22 @ A$0.70 / Share 61.7M A$33.9M Ordinary Shares Enterprise Value 5.5M A$9.3M Unlisted Options Cash Balance @ 31c, 36c and 42c @ 31 March 22 incl. Placement (after fees)

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Share Price
IPO 25c
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Shareholders
Top 20
27%
Other
41%
Directors / Management Top 20 Institutional
11% 21%
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Key Facts
• Only 61.7M shares on issue
• Strong institutional support:
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1Source: Austex Resource Opportunities – 14 Feb 2022 presentation

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OPERATING AIRSTRIP
FRESH WATER DAM
CAMP
AQ OPEN PIT
PREVIOUS GOLD MILL CIRCA 2000
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Alice River Gold Project Overview Acquisition & Mining History

• Limited exploration over past 20 years (held by private company) – Pacgold acquired the project in Dec 2020

• Overlooked opportunity – Pacgold achieving rapid success applying modern exploration

• Pacgold owns the project 100% - Minimal upfront payments - success milestone payments linked to JORC indicated resource definition and a 2% NSR[2]

• Targets secured under 8 granted Mining Leases and 5 granted EPMs

Mining History

Late 1980’s

Late 1990’s

1900’s

Open pit mining to 40m, Colluvial & alluvial ore, 30,000oz @ 5.6g/t Au 3,000oz @ 2.5g/t Au

Several underground mines up to 40m deep over 3km, 3,000oz @ 30g/t Au

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1980’s – 1990’s campaigns Gold produced via Carbon in Pulp (CIP) processing

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2 Full acquisition terms are detailed in Pacgold's IPO Prospectus dated 25 May 2021 - ASX release 6 Jul 2021

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Project Location Overview Alice River Gold Project

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7km of Priority Targets
1. Central Target
(F1a high-grade zone)
2. Southern Target
3. Northern Target
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Open pit >30km Regional Corridor Regional Target Pipeline

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IP Resistivity Geophysics

Success targeting resistivity lows (blue-purple) defining mineralised fault zone – First detailed IP survey

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Northern Target
Central Target
Open pit
DRI L L SECTION
>7km
Fault Zone
Southern Target
Resistivity IP Geophysics
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Central Target – Long Section Gold mineralisation open along strike and at depth

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Central Target – Long Section

High-Grade Gold Zones

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Central Target

Excellent early success targeting new IP geophysics – resistivity lows defining mineralised shears

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Central Target

Excellent early success targeting new IP geophysics – resistivity lows defining mineralised shears

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Southern Target Northern Target High-grade gold in limited previous shallow drilling Defining new extensions

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Project Pipeline – Regional Structures

Excellent regional prospectivity - scalability to significantly expand

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6m @ 1.1g/t Au
6m @ 2.7g/t Au
10m @ 1.7g/t Au
6m @ 12g/t Au
30m @ 0.7g/t Au
6m @ 8.1g/t Au
20m @ 0.4g/t Au
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First Mover Opportunity

• Pacgold first to apply new ideas to an entire corridor

Excellent historical scout drill results

• Potential to join the dots over >30km

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Experienced Board & Management

Discovery | Project Financing | Mine Development

Cathy Moises Non-Exec Chair

Geologist with over 30 years in resource finance industry including senior roles for several of the most prominent stock broking firms in Australia and currently a Director for ASXlisted companies (ASX: ARU, APC, WAK and POD).

Michael Pitt Non-Exec Director

Co-founder of New Century Resources, playing an instrumental role in the restart of the Century zinc mine combined with a strong background in chemical engineering, project financing / management and business development.

Shane Goodwin Non-Exec Director

Extensive experience in mining corporate affairs and external relations for New Century Resources, MMG and Barrick Gold. Currently a Director of the Aboriginal Development Benefits Trust (Gulf of Carpentaria).

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Tony Schreck Managing Director

Geologist with over 30 years of precious and base metal exploration, business development and discovery experience (Australia and overseas) combined with extensive ASX-listed corporate management. Graduate Australian Institute of Company Directors.

Geoff Lowe Exploration Manager

Geologist with over 35 years of precious and base metal exploration, business development, project management and mining services experience in Australia and internationally.

Suzanne Yeates CFO & CS

Chartered accountant with over 20 years’ experience as Chief Financial Officer and Company Secretary for many private and ASX-listed companies including ASX: NVX, CML, GAS, IHR and CTD.

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Unlocking an Entire Gold Corridor
New ideas, modern exploration and an overlooked opportunity
High-grade F1a zone discovered within granted Mining Leases
• 17m @ 9.3g/t Au from 192m incl. 3m @ 25.3g/t Au from 195m
• 43m @ 3.0g/t Au from 214m incl. 6m @ 17.5g/t Au from 216m
Aggressive expanded step-out drilling planned over the
coming 18 months
• 80% to step-out / expand F1a high-grade zone
• 20% to strengthen project pipeline regional targets
How big could this be?
This is the question we will answer in 2022/23
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Managing Director

WWW.PACGOLD.COM.AU

Appendix – Full Acquisition Terms Alice River Gold Project - 100% Pacgold

Cumulative cash payments to vendor associated with Indicated Resource milestones

• $300,000 payable if Pacgold defines a 500,000 oz Au JORC Code Indicated Resource

• • $750,000 payable if Pacgold defines a 750,000 oz Au JORC Code Indicated Resource • $1,200,000 payable if Pacgold defines a 1,000,000 oz Au JORC Code Indicated Resource

Total Payments of $2.25M for 2.25M oz Au JORC Code Indicated Resource

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Donlin Exploration Model – Intrusion Related Gold Success applying the Donlin model to the Alice River Gold Project

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